What is a plan order?
Plan order is an order type that automatically converts plan order into a order based on market conditions. Different from the ordinary order, the plan order will not be directly sold, but will be converted into a order and realized when the trigger condition takes effect. In other words, it will only trigger the order instead of the depth.
The advantage of plan order is that as long as you set the plan, when the market triggers the corresponding conditions, your order can complete the relevant operation immediately without manual intervention.You can use plan order to stop profit or loss, and you can also open the position to earn profits after the market reaches the point you expect.
How to use the plan to entrust a stop loss?
1. The order plan include open position order plan and close position order plan. The close position order plan is also called stop-loss plan. Check the picture below.
2. Enter trigger price, limit price and amount
Trigger price type includes last price, fair price and index price (shown in the pic. below). If you select Index price as the trigger price type, the order will be triggered when the index price reaches the price you have set.
Limit price: it is the price that your order placed in the order book upon your triggered price reached.
Amount: the amount of the order.
Valid term: the plan order has a valid term of 7 days by default. Users can also select the valid term of 24h.
3. After you have set up and submitted the plan order, you can view the current plan order in the plan order list. (Note: Confirm that the asset is sufficient when you execute it, otherwise the plan order may fail to execute when triggered.)
What is the cost of the plan?
The plan order is free of charge, and the actual handling fee for the order is subject to the current transaction.